MPFunds prop firm offers funded accounts, but all the funding is virtual. The firm won’t allow traders to access live markets with real funding even after they pass the evaluation phase. This is typically a major red flag for a prop firm, as prop traders are expected to get access to live accounts and live markets. By offering only funded accounts, the prop firm has a conflict of interest and is motivated for its traders to fail. The firm is young as it was launched in 2023 and lacks experience in the industry, which is another downside. There are only 77 reviews on Trustpilot as well.
In our MPFunds review, we are going to dissect every important aspect of the firm and provide unbiased analysis and evaluation of its safety, assets, rules, funding, fees, profit-sharing, and more.
Pros
- Ability to withdraw with $0 fees
- Offers access to MetaTrader 5, cTrader
- Fast and digital account opening/verification
- Most payment options are free and instant
Cons
- Low total loss limit of 4%
- Only offers FX, indices, and commodities
- Does not provide real funded accounts
- All trading is done on demo accounts
- Rules are different for the final stage of funding evaluation, confusing traders
Quick rating of MPFunds and its features
| FPA Score | Not yet rated |
| Year founded | 2023 |
| Headquarters | Singapore |
| Minimum audition fee | 108 USD |
| Fees on withdrawals | 0 USD |
| Minimum funded amount | 10,000 USD |
| Maximum funded amount | 200,000 USD |
| Allowed daily loss | 5% |
| Profit target | 8% |
| Maximum trailing drawdown | 10% |
| Profit sharing (Payouts) | 80% |
| Trading Platforms | MetaTrader 5, cTrader |
| Available trading markets | Forex, indices, commodities |
Safety of MPFunds — 0
MPFunds reviews are lacking on the FPA, as the firm was recently launched and lacks severely in the experience department. The reviews are only around 77 on Trustpilot, indicating the firm lacks experience and awareness in the industry. Since it does not offer real funded accounts and all accounts are virtual, this lack of awareness and trader interest is understandable. Because of virtual funded accounts, MPFunds is not backed by a regulated broker, which increases risks of price manipulation and other ill-acting considerably. With these conditions, the firm is in a direct conflict of interest with its traders and is motivated for its traders to fail so it can collect fees.
The firm gets a 0 score in this section for providing little to no safety to its prop traders.
MPFunds Funding and maximum capital allocation — 3
MPFunds funded programs are two, standard, and swing. A swing account allows traders to hold positions overnight and during the news, while a standard will prohibit all traders from opening trading positions during these times. Both accounts have similar funding options, ranging from 10 grand to 200k US dollars in virtual funding.
The exact MPFunds funding options are 10k, 25k, 50k, 100k, and 200k USD. Both funded account types have two phases before traders can finally trade on real funded accounts, which are also virtual.
MPFunds challenges allow traders to withdraw virtual profits after getting funded, which is a red flag, and we have no confirmation that the firm allows traders to withdraw their virtual profits.
MPFunds scaling plan allows traders to scale their virtual funding up to 1 million USD if they succeed, which is quite rare with this firm.
MPFunds gets a 3 score in this section.
MPFunds Assets — 1.5
MPFunds prop trading firm offers a limited range of trading assets including Forex, metals, energies, commodities, and indexes. These assets are available on the cTrader and MT5 platforms. Depending on the selected trading platform the list of instruments differs a little which makes it even more difficult to trade with MPFunds. The leverage is 1:100 on standard and 1:30 on swing funded challenges. For not offering anything except FX, commodities, and indices, MPFunds gets a 1.5 score in this section.
MPFunds Trading rules and limitations — 0.8
MPFunds rules are forgiving for both standard and swing trading funded challenges. If the firm offered access to real funded accounts, these rules would be manageable for traders. The daily risk limit is 5% for both accounts, the minimum trading days are 5, the maximum total loss is set at 10%, and the profit target is 8%. The only difference between swing and standard accounts is the leverage of 1:100 for standard and 1:30 for swing accounts. Standard accounts do not allow traders to hold positions overnight, during news, or over the weekends, only on the 3rd stage where they have acquired virtual funded accounts. This naturally confuses traders and increases their chances of failure, which is again because of conflicts of interest. A swing trading account allows all these. There is almost no difference between the standard and swing trading accounts regarding the challenge rules, only leverage, which is suspicious. The firm gets a 0.8 score in this section for offering tricky rules to confuse traders.
MPFunds Fees — 1.5
MPFunds has competitive fees for its virtual funded challenge accounts. The one-time fees are the same for both funded accounts, including standard and swing. Here is the list of fees for each virtual funding option:
- Virtual funded amount: 10,000 USD — one-time fee: 108 USD
- 25,000 USD — 198 USD
- 50,000 USD — 298 USD
- 100,000 USD — 550 USD
- 200,000 USD — 1,100 USD
The lack of lower funded options and lower fees is a drawback of MPFunds that can not be overlooked.
MPFunds free trial is not available as traders have to purchase funded challenges.
MPFunds free repeat is not available either, as traders are only refunded if they achieve success. The firm gets a 1.5 sore in this section.
MPFunds Platforms — 3.6
MPFunds offers access to two trading platforms, MetaTrader 5, and cTrader. These are advanced platforms and offer full trading experience with advanced capabilities. However, the firm is not backed by a regulated broker, meaning it acts as a broker for these simulated trading. Because there is no broker, the firm does not offer high-quality trading capabilities on these platforms. MT5 and cTrader both support EAs and custom technical indicators, which can be very helpful in analyzing markets comprehensively, but the firm fails to offer them through the regulated broker, gaining a 3.6 score in this section.
MPFunds Profit-Sharing — 1
MPFunds profit split is capped at 80%, meaning traders can withdraw up to 80% of their profits made in the virtual trading account. There are no higher options offered. We were not able to confirm the exact time for withdrawals, and the firm gets a 1 score in this section as a result.
Education and trading tools at MPFunds — 4
MPFunds only is useful in education as the firm is focused on offering education to traders. This includes Coaching, Courses, and Counseling which might be useful. Traders could use the firm’s educational services but opening a funded account with MPFunds is still not recommended as there are too many red flags together with the conflict of interest. The firm gets a 4 score in this section for offering diverse educational courses and coaching to traders.
Customer Support at MPFunds — 2.4
The support provided to MPFunds traders includes email and live chat channels. The website of the firm is multilingual, but the support is not. The live chat is available 24 hours a day and can provide quick assistance. The firm still does not offer hotline support, which is typically considered by us as a red flag. The firm gets a 2.4 score in this section.
Frequently Asked Questions on MPFunds
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